MARKETING Flashcards

Question

behavioural segmentation

Answer 1

when buyers are grouped based on their knowledge of the product, their attitudes towards it, the way they use it and their responses to it. Qantas mainly uses behavioural segmentation to select its target market. Buyers are distinguished according to trip purpose eg business and leisure/ travellers.

Answer 2

Differentiation involves providing greater customer value and making the product stand out clearly from that of competitors.

Answer 3

how consumers perceive the product in terms of the relationship between product quality and price. By positioning in relation to its competitors i.e. launching Jetstar has eroded some of the market share held by virgin IKEA positions its products at the lower end of the furniture market as the products are cheap compared to their competitors

Answer 4

A brand can be a name, term, symbol or special design that identifies a good or service of a seller.

Answer 5

this uses a non brand name and very plain packaging. Businesses usually use this strategy when they want to position their product as low cost, i.e. Woolies select

Answer 6

with this each major product or product line is given its own brand name. A separate name can be used for many different products which are made by the same producer, ie Omo, Lux, Drive, Surf and Softy are all made by Unilever.

Answer 7

this groups all of a business’s products under one single brand name. This allows one image to be created and promoted, leading to increased awareness of the business and its products

Answer 8

Packaging is the activity of designing and producing a container or wrapper for a product. - persuade consumers to purchase the product to protect purchasers by - using anti-tampering devices and child safety caps

Answer 9

distributing several products in a similar way e.g. cadbury

Answer 10

a business may decide to change the packaging of a product in order to improve the quality

Answer 11

often used as a marketing technique, it stimulus repeat customers

Answer 12

this is when several items are packaged as a unit ie toilet paper

Answer 13

markup on original price to cover costs qantas determines cost of production then adds markup for profit

Answer 14

business looks at how much it thinks the consumers are willing to pay

Answer 15

when a business sets its price in relation to a similar product from a competitor qantas monitors airlines such as virgin australia prices

Answer 16

high price when entering the market used for first class and flights straight from perth to london

Answer 17

low initial price when entering the market → large number of sales immediately used for jetstar main strategy used by IKEA

Answer 18

some goods set below cost price to attract customers sydney to melbourne as low as $19 to compete with tiger air regularly used by IKEA

Answer 19

psychological price e.g $9.95 instead of $10 all IKEA products are priced ending in .99

Answer 20

advantages: Explaining product benefits, demonstrate product correctly, answer questions Disadvantages: Leads to high costs Q Sales representatives sell directly to travel agents, businesses and government departments IKEA Representatives are available to assist customers

Answer 21

Mass communication where the product is clearly identified → TV, radio, billboards etc. Q Uses less blanket advertising and more direct however many people receiving the message are not in the target market IKEA Catalogue printed in 208 million copies in more than 30 languages

Answer 22

Non paid form of advertising → good image with business market and general public Publicity: provides nw or information to the media that relates to the business Q Has used John Travolta as brand ambassador, sponsoring sports for team travel and foundations IKEA UNICEF’s largest global partner → support through soft toy campaign

Answer 23

where the product is available at every possible outlet, ie soft drink

Answer 24

widely distributed but not intensive

Answer 25

limits supply → very expensive to achieve elite image

Answer 26

consumers in different countries are charged different prices for the same product. This is commonly used due to the added expense associated with exporting ie apple

Answer 27

This sets the price according to local market conditions. It is more flexible.

Answer 28

charging customers the same price for a product anywhere in the world.

Answer 29

Name, term sign or logo that distinguishes one product from competitors Global branding improves margins → drives down packaging design and advertising production costs Global logo has the same colours as swedish flag to create sense of familiarity Flying kangaroo creates instant recognition → safety, reliability, engineering

Answer 30

Offering the same product on a worldwide basis: → Customer interests are similar worldwide → Customers are willing to sacrifice product features and design for price → Economies of scale can be achieved through supplying globally Q Uses standardisation to capture greater share of market → same product design, brand name packaging etc IKEA Standardisation lead to greater economies of scale → lower prices → more profit

Answer 31

Used to stand out from competitors → reflect individual customer needs in different countries IKEA had to customise european products to fit american market Q Asian flights include asian meals and fluent asian speakers

Answer 32

Strengths - internal advantages Weaknesses - internal disadvantages Opportunities - external advantages Threats - external disadvantages

Answer 33

introduction growth maturity decline

Answer 34

increasing market share develop new products and services expand existing markets expanding sales through export markets increase domestic flights as state borders have reopened resume international flights

Answer 35

the strategy relating to product, deals with the particular product that the business is selling to capture the target market

Answer 36

the strategy relating to product, deals with the particular product that the business is selling to capture the target market

Answer 37

this is crucial when developing a marketing strategy because if customers do not accept the price of particular products then all other efforts relating to the good have been wasted

Answer 38

this can take on many forms such as personal selling, mass selling and sales promotion. It is the role of the marketer to blend these different types of promotion to achieve optimal results

Answer 39

getting the product in the right place at the right time

Answer 40

Implementation - marketing plan is put into operation Monitoring - ensuring business objectives are being achieved Controlling - keeping the business informed about its performance

Answer 41

motivation perception lifestyle personality and self concept learning attitudes

Answer 42

culture subcultures family reference groups

Answer 43

Section 3 of ACL 2010: consumer = person who acquires goods or services priced under $40,000 for personal, domestic or household consumption

Answer 44

Section 18 of the ACL prohibits a person from engaging in misleading or deceptive conduct Bait and switch advertising - product advertised as reduced with only a limited number in stock → does not notify consumer →attracts sonumer to store to offer similar good at higher price

Answer 45

Setting of different prices for products in separate markets Q Fined by ACCC after colluding with airlines to fix fuel surcharges on its freight services to the US.

Answer 46

Contractual terms which have no been expressly stated but courts are willing to enforce Part 5-4 of the ACL states consumer can seek a refund, replacement or repairs if a supplier fails to satisfy obligations in relation to consumer guarantees Q Fined $2m in 2019 for misleading consumers about their rights to refunds when a jetstar flight was elated or cancelled

Answer 47

return products if they become faulty during a specified period effective marketing tool for businesses, especially if they advertise extra warranty The extent of the guarantee given for each product is described alongside each product. IKEA will examine the product and choose either repair or replace the product

Answer 48

Promotional material should be true, accurate and in good taste Truth and accuracy are legal requirement while good taste is an ethical issue IKEA has come under fire for airbrushing women and girls out of its catalogues in Saudi Arabia. “We are looking into the issue and holding a dialogue with our Saudi franchise holder,” said, a spokeswoman for inter ikea systems.

Answer 49

Section 45 of the ACL prohibits contracts, arrangements or understandings containing a provision which has. the purpose, effect or likely effect of substantially lessening competition. Fostering the competitive environment to giver consumer diversity of choice quality and service

Answer 50

selling under the guise of research. unethical because the research motive is misleading to the consumer when a product marketer falsely pretends to be a market researcher conducting a survey, when in reality they are simply trying to sell the product in question Qantas was accused of ambush marketing during the sydney 2000 olympics when it linked itself to the olympics despite not being an official sponsor

MARKETING Flashcards

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